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A sampl issues this mortgage on april 1 and retains the

Consider a 30-year, fixed-rate mortgage for $100,000 at a nominal rate of 9%. A S&L issues this mortgage on April 1 and retains the mortgage in its portfolio. However, by April 2, mortgage rates have increased to a 9.5% nominal rate. By how much has the value of the mortgage fallen?

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Accounting Basics: A sampl issues this mortgage on april 1 and retains the

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